Interest rates have risen significantly over the last year, from 0.08% at the end of 2021 to 3.08% at the end of Q3 2022. (Credit: Murrstock/Adobe Stock)

Agents and brokers saw their first drop in organic growth in almost two years in Q3 2022, according to the Reagan Quarterly Market Update, but growth still sat at 9.5%, well above the 4.7% growth seen in Q3 2020. Q3 2022 also ranked as the quarter with the second-highest reported organic growth since the Growth and Profitability Survey began in 2008. The highest organic growth in that time period was recorded in Q2 2022 (10.2%).

Commercial lines saw more growth (11.8%) in Q3 2022 than personal lines, however personal lines saw its highest quarterly organic growth rate (5.9%) since the survey began. The report attributes this increased personal lines growth to brokers working to round out accounts and create stronger relationships with clients.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

Brittney Meredith-Miller

Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected]

More from this author

 

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2023 ALM Global, LLC. All Rights Reserved.